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estate planning Archives

What are the primary advantages of trusts?

If you currently reside in Missouri and are trying to figure out the best way to preserve your legacy for those you love most, you may be giving some thought to potentially establishing a trust. While many people do not fully understand trusts or exactly what they entail, they can prove to be an extremely worthwhile estate planning strategy that can help you hold on to more of your wealth for future generations.

Estate planning after your divorce

Marriage and estate planning go hand-in-hand, as such an event is certainly something that will affect who you would want inheriting your assets in the event of your death. The same is true with divorce. Upon the dissolution of your marriage in Saint Charles, you might also decide that you do not want your former spouse benefitting from your estate. However, our team here at Stephen A. Martin Attorney at Law has met with countless clients whose family members or friends passed away without ever updating their wills following their divorces. Their questions are almost always the same: will the decedent's ex-spouse get everything? 

The three P's of guardianship

One element of estate planning that is often overlooked is selecting a guardian for your minor children. Ensuring that your children are raised by someone of your choosing should be one of the primary motivators for you to begin this process early in your adult life. Several people have come to our team here at Stephen A. Martin Attorney at Law asking for guidance when making this decision. However, exact advice on this topic may be difficult to provide. 

Man's widow and daughters battle over $60 million estate

Far too few of those in Saint Charles who should be seeing to their estate planning may actually be doing it. One might understand the hesitancy another might have to seriously consider end-of-life issues while he or she is still of sound mind and body. Yet the purpose of estate planning should be viewed as preparing for death; rather, it should be considered a method through which people can pre-emptively avoid having inheritance issues fracture families. 

Choosing a personal representative

As you begin the process of estate planning in St. Charles, one of the most important decisions that you must make will be who to choose as your personal representative. This is a choice that should certainly not be taken lightly, as this person will be responsible for carrying out your wishes as they're stipulated in your will. Furthermore, whomever you choose will be the one who ensures that your beneficiaries can receive all the you have designated for them. Many come to members of our team here at Stephen A. Martin Attorney at Law for guidance when making this decision. We often start by telling them the basic qualifications to be a personal representative. 

What is a living will?

Missouri residents like you who are dealing with an advance medical directive for the first time may not know how to handle it. Also known as a living will, these documents are vital to how you will help handle your loved one's final matters.

Reasons why estate planning can make all the difference

Most Missouri residents could agree that estate planning is no walk in the park. Even the mere discussion of one's plans can create stress for some, depending on the situation. While it is natural for family members to express concern over the future of a loved one, what if no estate plan existed? In these cases, there could be many obstacles.

Understanding the process of intestate succession

Many in St. Charles have the hope that the assets they accumulate during their lives can eventually benefit their loved ones. Yet many of those same people fail to follow through on the simple step of designating where they want those assets to go. If one dies intestate (without a will), the state gets to the determine how his or her estate is dispersed. 

Common mistakes in estate planning

For some, estate planning can be a sensitive topic, and even one to avoid. After all, discussing such arrangements can make many Missouri residents uncomfortable, or unsure of where to turn for adequate advice. While it may be tempting to push estate planning to the wayside, establishing a plan early on can make the entire process a smoother one. 

Making an estate plan with young children

If you are the parent of one or more young children in Missouri, the thought of making an estate plan may feel out of reach and possibly even unnecessary for you. However, the reality is that your position as a parent makes estate planning extremely necessary and important.

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Saint Charles, MO 63301

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